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Sunday, September 15, 2019 One of the most important decisions that a startup entrepreneur can make is creating a board of directors that will assist the entrepreneur in growing and governing the business. A company’s board of directors is tasked with overseeing and advising management, making key decisions about the company’s business strategies, and representing the interests of the company and its stockholders.
Section 220 of Delaware General Corporation Law allows a shareholder or a director of a corporation to inspect the corporation’s “books and records” for a “proper purpose.” Two recent Delaware cases, which determined that corporate “books and records” may include emails and even personal text messages, shed light on the future implications surrounding Section 220 actions as courts move to keep up with the modernizing trends of increasingly electronic (and sometimes increasingly informal)...
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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